Yen slips on BoJ chief’s easing comments

The yen lost ground in Asian trade ON Tuesday as the Bank of Japan chief vowed to press ahead with “aggressive” monetary easing to combat the deflation that has haunted the country’s economy for years.

The dollar was changing hands at 89.56 yen in Tokyo from 89.45 yen in New York Monday afternoon, while the euro also gained on the Japanese currency at 119.93 yen from 119.65 yen.

The euro was stronger at US$1.3391 from US$1.3376 in US trading.

Tokyo’s benchmark Nikkei index hit a 32-month high in Tuesday morning trade as the yen continued its decline.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1128525/yen-slips-boj-chiefs-easing-comments